OPEC+ plans to continue gradually increasing oil production from April, despite U.S. calls to lower prices. The price of Brent crude oil reached $83 per barrel due to U.S. sanctions on Russia but later fell. OPEC+ has reduced production by 5.85 million barrels per day since 2022 and has extended the reduction until the end of the first quarter of 2025. The OPEC+ meeting is taking place in the context of U.S. tariffs on Mexico, Canada, and China, which have further influenced the rise in oil prices.
OPEC+ plans to slowly increase oil production from April.
